Rafferty Asset Management LLC Trims Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Rafferty Asset Management LLC decreased its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 22.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 167,935 shares of the biopharmaceutical company’s stock after selling 48,891 shares during the period. Rafferty Asset Management LLC’s holdings in Cytokinetics were worth $7,900,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Cytokinetics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after purchasing an additional 154,216 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in Cytokinetics by 11.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock worth $505,780,000 after purchasing an additional 1,062,136 shares during the period. Deep Track Capital LP grew its position in shares of Cytokinetics by 296.9% during the 4th quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $117,600,000 after buying an additional 1,870,094 shares in the last quarter. Marshall Wace LLP grew its position in shares of Cytokinetics by 14.9% during the 4th quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company’s stock worth $101,292,000 after buying an additional 279,612 shares in the last quarter. Finally, Orbimed Advisors LLC grew its position in shares of Cytokinetics by 106.5% during the 4th quarter. Orbimed Advisors LLC now owns 1,584,005 shares of the biopharmaceutical company’s stock worth $74,512,000 after buying an additional 817,099 shares in the last quarter.

Cytokinetics Stock Up 3.9%

Shares of CYTK stock opened at $31.00 on Friday. The stock has a 50 day moving average of $38.88 and a 200 day moving average of $45.23. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a market cap of $3.70 billion, a P/E ratio of -5.76 and a beta of 0.81. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $61.40.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, beating the consensus estimate of ($1.41) by $0.05. The company had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $2.77 million. The firm’s revenue was up 89.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.33) earnings per share. As a group, sell-side analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup dropped their price target on Cytokinetics from $86.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Cantor Fitzgerald raised Cytokinetics to a “strong-buy” rating in a research report on Tuesday, May 13th. Stifel Nicolaus assumed coverage on Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research report on Monday, April 21st. Finally, Bank of America dropped their price target on Cytokinetics from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.44.

Insider Activity

In other news, Director Muna Bhanji sold 1,454 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $29.73, for a total value of $43,227.42. Following the completion of the sale, the director now directly owns 23,510 shares in the company, valued at $698,952.30. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Wendall Wierenga sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $38.46, for a total value of $769,200.00. Following the completion of the sale, the director now owns 24,848 shares of the company’s stock, valued at $955,654.08. This trade represents a 44.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,816 shares of company stock worth $3,942,345 over the last three months. 2.70% of the stock is currently owned by corporate insiders.

About Cytokinetics

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.